Sempra Energy (SRE) Given Average Recommendation of “Buy” by Brokerages
Sempra Energy (NYSE:SRE) has received an average recommendation of “Buy” from the eleven analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $123.00.
Several equities research analysts have issued reports on the company. Bank of America assumed coverage on Sempra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $125.00 price target for the company. JPMorgan Chase & Co. raised their price target on Sempra Energy from $123.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Wells Fargo & Co reaffirmed a “buy” rating and set a $121.00 price target (down previously from $130.00) on shares of Sempra Energy in a report on Wednesday. Goldman Sachs Group raised Sempra Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $129.00 in a report on Wednesday, October 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Sempra Energy in a report on Tuesday, November 7th.
A number of institutional investors have recently made changes to their positions in SRE. Shell Asset Management Co. lifted its holdings in shares of Sempra Energy by 14.1% during the third quarter. Shell Asset Management Co. now owns 66,058 shares of the utilities provider’s stock worth $6,961,000 after buying an additional 8,165 shares in the last quarter. Capital Guardian Trust Co. lifted its holdings in shares of Sempra Energy by 10.7% during the third quarter. Capital Guardian Trust Co. now owns 276,328 shares of the utilities provider’s stock worth $31,537,000 after buying an additional 26,798 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Sempra Energy by 32.0% during the second quarter. Profund Advisors LLC now owns 26,232 shares of the utilities provider’s stock worth $2,958,000 after buying an additional 6,353 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Sempra Energy by 3.4% during the third quarter. New York State Common Retirement Fund now owns 542,500 shares of the utilities provider’s stock worth $61,916,000 after buying an additional 17,800 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Sempra Energy by 14.8% during the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock worth $1,308,797,000 after buying an additional 1,474,282 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.
Sempra Energy (NYSE:SRE) last released its earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, meeting the consensus estimate of $1.04. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned $1.02 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. research analysts predict that Sempra Energy will post 5.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.8225 per share. This represents a $3.29 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 28th. Sempra Energy’s dividend payout ratio is 72.95%.
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About Sempra Energy
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
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